Multiple Choice
If the price of Good Y falls from $10 to $8, and the quantity demanded of it rises from 1,000 units to 1,200 units, the price elasticity of demand expressed in absolute value is:
A) 1.00.
B) 0.20.
C) 0.82.
D) 1.22.
Correct Answer:
Verified
Correct Answer:
Verified
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